Member Info for MajorThomas1

Still watching L2.

L2, are you for real. Do you really think this is "absolutely fantastic news"? Or are you pumping this for your own or someone else's benefit?

Do you honestley think that these institutions and KDNC would be selling out sizable holdings, at more than likely a loss, if there was any chance of a buyout north of this SP or positive funding news in the foreseeable?

Getting very dangerous here IMO.

L2, not long, not short, waiting patiently.

Gopies, If you are really interested in when I sold. It was Thursday, early afternoon at 25 and 25.5p.

Got over the FOMO a long time ago L2. Used to get spiked all the time jumping in on the back of ramped up SP rises on no news. Can be a very expensive business. I try to go the other way now.

Dan1,

I am trying not to post but feel compelled to when I see people continually posting that they buying more and more when my own instinct is to sell.

BigBiteNow's excellent post is bang on the money. BCN are an excellent company, they have an unbelievably valuable resource which is only going to grow in demand and have developed a process flow which means they can extract and refine it economically.

All good, however, for me, at this moment in time they are at a crossroads between financing to self develop, a hostile takeover / buyout of Sonara or some sort of JV . Given the BOD's preference thus far to self develop and the Hanwa influence I see equity financing being the most likely outcome. Unfortunately I cannot see how this can be done without diluting existing shareholders.

That's why I am sitting on the sidelines and will more than likely keep throwing in my tuppence worth until I buy back in.

Exactly tomcat by my reckoning at todays exchange rate and todays SP that $25m investment would mean around another 92,000,000 shares!

Exactly tomcat by my reckoning at todays exchange rate and todays SP that $25m investment would mean around another 92,000,000 shares!

Tomcat, that's one of the problems. How many shares would Hanwa receive at this point in return for their $25m?

Jimb2, I sold last week intending to buy back under 20p. Not quite there yet but interested in this Hanwa loan. What do you think they would be looking for in return for say another 100m in funding?

For transparency I sold my holding Thursday hoping to buy more at a cheaper price.

I will stop posting today and come back when / if I get back in. There is nothing worse than someone like me continually posting hoping for the price drop.

Just wanted to get my point across before I did as there seems to be some genuine holders here and I don't like what I see coming.

Cadence had max 4.89 percent at the start of the week, as per the holding RNS on 1st March and finished the week with 2.77 percent. So they sold out max 2.12 percent or 2,840,800 shares last week assuming they sold nothing the week before.

"The ramping twitteratti" and general churn accounts for a few more million but there is still someone selling big into this spike.

36.8m trades in a week!

The question to ask yourself is where is all that volume coming from?

Who is selling?

I'm not here for a quick sprint either. I am just trying to maximise my holding size in a company that I believe has a prosperous future. Do exactly the same thing with all my investments. As you say its not easy and sometimes I get it wrong but that's what I do.

For me I want BCN to secure the funding and develop Sonara but more often than not these companies get taken over before they realise the full potential of their assets. Why because of someone like me can see the potential the industry experts can also see it and want it for themselves. FPM and IAE are a couple of good examples, I had built good holdings in both for the long term and they were taken out IMO below their market value.

What's strange about this is how Southern or should I say Groupo Mexico decided to announce their interest. Either very unprofessional or a calculated move. I know what my monies on.

Exactly nothing has actually changed since Monday!

The company are working to raise the funds for Sonara and hope to Complete this in Q2.

True this price is a bargain but unless Southern actually back up their talk with an offer then all this hype means nothing. I personally believe that if they were going to do this they would have conveyed this in a HOT to BCN rather than to the open market via Reuteurs.

For clarity I sold my holding yesterday hoping to get some free shares if I manage to buy back lower.

Tiger, yes we can be sure that this was consciously released by Southern. The question is why?

Not sure how many long term investors would welcome a sell off of Sonara. Absolutely sure that the BOD would not welcome it.

IMO the only logical reason for Southern to release such news would be to scupper the imminent equity funding which would have ended any interest they had in the company.

They are definately sells.

The directors want to raise the funds to develop and realise the full potential of Sonara.

Yes with funding BCN is worth well North of this SP but, unfortunately and perversely this SP spike makes the funding harder to come by.

Taff, no alterior motive. I know it's a gamble and I know that this could easily go back to 80p.

I have been building a position in BCN because I belive that one day it will come good.

If it stabilises higher I will probably buy back in post funding and if it drops off again I will increase my holding free of charge. Its a risk but one I am willing to take.

Perfect example of the aim madness. The last 2 RNSs confirm no change in the status of the company yet it has risen almost 45% in half a days trading.

I am selling up today and hope to buy back in lower. Could turn out a bad move but IMO once the dust settles and people remember that the remainder of the funding is via equity this will drift back down towards 15p. If I'm wrong then so be it if I'm right I will almost double my holding.

GLA